Okla. Stat. tit. 71, § 71-456
This is the official text of Okla. Stat. tit. 71, § 71-456, part of Oklahoma’s Stat. tit. 71, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 71,." Browse the sections below, each linked to its official government source.
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Actions of offeror - Limitations
Official statutory text
A. No offeror may make a take-over offer which is not made to
shareholders in this state on substantially the same terms as the
offer is made to shareholders outside of this state.
B. An offeror shall provide that any equity securities of a
target company deposited or tendered pursuant to a take-over offer
may be withdrawn by or on behalf of any offeree at any time within
seven (7) days from the date the offer has become effective under
this act and after sixty (60) days from the date the offer has
become effective under this act, except as the Administrator of the
Department of Securities may otherwise prescribe by rule or order
for the protection of investors.
C. If an offeror makes a take-over offer for less than all the
outstanding equity securities of any class, and if the number of
securities deposited or tendered pursuant thereto within ten (10)
days after the offer has become effective under this act and copies
of the offer, or notice of any increase in the consideration
offered, are first published or sent or given to security holders is
greater than the number the offeror has offered to accept and pay
for, the securities shall be accepted pro rata, disregarding
fractions, according to the number of securities deposited or
tendered by each offeree.
D. If an offeror varies the terms of a take-over offer before
its expiration date by increasing the consideration offered to
security holders, the offeror shall pay the increased consideration
for all equity securities accepted, whether such securities have
been accepted by the offeror before or after the variation in the
terms of the offer.
Oklahoma Statutes - Title 71. Securities Page 130
E. No offeror may make a take-over offer or acquire any equity
securities in this state pursuant to the take-over offer, at any
time when any injunction or cease and desist order is in effect
against the offeror based upon a violation of any provision of this
act or the Oklahoma Securities Act.
F. No offeror may acquire, remove or exercise control, directly
or indirectly, over any target company assets located in this state
pursuant to a take-over offer at any time when any injunction or
cease and desist order is in effect against the offeror based upon a
violation of any provision of this act or the Oklahoma Securities
Act.
shareholders in this state on substantially the same terms as the
offer is made to shareholders outside of this state.
B. An offeror shall provide that any equity securities of a
target company deposited or tendered pursuant to a take-over offer
may be withdrawn by or on behalf of any offeree at any time within
seven (7) days from the date the offer has become effective under
this act and after sixty (60) days from the date the offer has
become effective under this act, except as the Administrator of the
Department of Securities may otherwise prescribe by rule or order
for the protection of investors.
C. If an offeror makes a take-over offer for less than all the
outstanding equity securities of any class, and if the number of
securities deposited or tendered pursuant thereto within ten (10)
days after the offer has become effective under this act and copies
of the offer, or notice of any increase in the consideration
offered, are first published or sent or given to security holders is
greater than the number the offeror has offered to accept and pay
for, the securities shall be accepted pro rata, disregarding
fractions, according to the number of securities deposited or
tendered by each offeree.
D. If an offeror varies the terms of a take-over offer before
its expiration date by increasing the consideration offered to
security holders, the offeror shall pay the increased consideration
for all equity securities accepted, whether such securities have
been accepted by the offeror before or after the variation in the
terms of the offer.
Oklahoma Statutes - Title 71. Securities Page 130
E. No offeror may make a take-over offer or acquire any equity
securities in this state pursuant to the take-over offer, at any
time when any injunction or cease and desist order is in effect
against the offeror based upon a violation of any provision of this
act or the Oklahoma Securities Act.
F. No offeror may acquire, remove or exercise control, directly
or indirectly, over any target company assets located in this state
pursuant to a take-over offer at any time when any injunction or
cease and desist order is in effect against the offeror based upon a
violation of any provision of this act or the Oklahoma Securities
Act.
Status: in_force · Read it on the official government site
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